financial aid at eiu a guide to the dollars and cents of realizing your dreams at eastern illinois university

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1 financial aid at eiu a guide to the dollars and cents of realizing your dreams at eastern illinois university

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3 Planning for college can be one of the biggest financial challenges for families. The costs can seem daunting and you re going to be faced with lots of terms you ve never heard before. That s why Eastern Illinois University is committed to helping students get the financial aid they need to achieve their educational goals and fulfill their dreams. In fact, more than 80 percent of the student body receives some sort of financial aid. In , that ed to more than $132 million in financial aid awards and loans. But, even before you get to the financial aid package, you re already ahead at Eastern. EIU helps you plan by locking in your tuition rate for all four years. You will never face rising tuition costs from year-to-year at Eastern. The tuition you pay freshman year will be the exact same rate you pay senior year. You ll never get an unpleasant surprise about tuition and wonder how you ll afford to finish as a result. What s more, we offer our same, low in-state rate to students coming from the five states contiguous to Illinois. So, even if you re from across the border in Indiana, Iowa, Kentucky, Missouri or Wisconsin, you ll still only pay the in-state rate. And, if you re one of our distinguished scholars (ACT of 26 or above or a combined SAT of 1760 along with a 3.5 GPA), we ll offer the in-state rate no matter where you live. Scholarships We offer a wide variety of scholarships including both need-based awards and merit scholarships to help you pay for your education. In fact, if you go to our website at you can review our scholarship search engine. You can also plug-in your ACT or SAT scores along with your GPA into our merit scholarship calculator and find out instantly the of Commitment to Excellence Scholarship you will receive. We ve included a chart showing some of the key scholarships that are available, but the list is extensive and we re always adding to it, so please refer to the website and find the scholarships for which you qualify. Just go to our website and click on cost to attend under the admissions tab. Grants Grants can be an important part of the student financial aid package. They can cover a significant portion of a student s expenses and best of all they don t have to be repaid. The federal Pell Grant is a key part of many student s financial aid packages, but take a look at the grid in this booklet and then go to our website for others that might be appropriate for you. We also help in other ways like our textbook rental program. We understand the cost of textbooks can be a burden, so we run our own rental service and charge just $9.95 per credit hour no matter how expensive the textbook might be. On average, it saves our students nearly $900 per year. And, we offer a wide variety of loans including both federal direct student loans and loans from private lenders. We ll work with you to find the best combination of aid sources to meet your needs so you won t face a mountain of debt after graduation. You may also want to consider working on campus as a way to help pay for your education. We have more than two thousand students working across the campus through the Federal Work Study program or through regular student employment. Look on our website under financial aid for student employment opportunities. (

4 In-State Cost to Attend Tuition & Fees $10,930 $279 per credit hour 15 hours/fall & Spring Room/board $ 8, meal plan Total Direct Costs $19,750 Out-of-State Tuition & Fees $27,670 $837 per credit hour 15 hours/fall & Spring Room/board $ 8, meal plan Total Direct Costs $36,490 Expected indirect costs (supplies/travel/miscellaneous $4,500) So, how do you get started? The first step is to complete the Free Application for Federal Student Aid or FAFSA as soon after January 1st as possible. You ll need both your student tax return and that of your parents. At EIU, our priority filing date is March 1st, so by completing your FAFSA early, you ll be ready to take advantage of the broadest array of financial aid. Some of the scholarship pools and other aid programs do get depleted as time goes on, so you ll want to be right in the front of the line. We highly recommend completing the FAFSA online. It is far easier, does many of the calculations for you and lets you save your work so you don t have to complete it all at once. Make sure, though, that you are on the official website for the application. Go to There are many services that offer to help you complete the forms, but they often charge a fee or try to sell you other services. The website listed above is free and easy to use. You will need to apply for a Personal Identification Number or PIN at Both parents and student will need a PIN because they are used to sign the form electronically. You ll also need Eastern Illinois University s federal school code Call us with your questions at or We realize the world of financial aid can be confusing and we re ready to help you navigate it. us with your questions at finaid@eiu.edu or call us Monday through Friday from 8 am to 4:30 pm Central Time. Or, if you re on campus, stop by our offices in the east wing of the Student Services Building.

5 Get started today! We want to help you attend EIU and we look forward to assisting you. Don t delay check out our scholarships and get your FAFSA completed as early as possible and you ll be on your way to paying for your EIU education. Merit Scholarships Eastern Illinois University offers students several different merit awards based on academic performance. Each new scholarship is renewable for four to eight semesters (depending on the type of scholarship) as long as the student recipient meets renewal criteria. Visit our online merit calculator at New Freshmen* scholarship Commitment to Excellence - Tier 1 Commitment to Excellence - Tier 2 Commitment to Excellence - Tier 3 $3,500 $2,500 $1,500 minimum ACT minimum GPA (4.00 scale) sample ACT and GPA awards renewal criteria Cumulative GPA of 3.00 or higher to renew. The award is renewable for a total of eight (8) consecutive semesters. Full-time enrollment (12 hours or more) is required. Cumulative GPA of 2.75 or higher to renew. The award is renewable for a total of eight (8) consecutive semesters. Full-time enrollment (12 hours or more) is required. Cumulative GPA of 2.50 or higher to renew. The award is renewable for a total of eight (8) consecutive semesters. Full-time enrollment (12 hours or more) is required. scholarship criteria Presidential Scholars Award $11,000 Eligible recipients must have an ACT of 30, GPA of 3.5 on a 4.0 scale and be in the top 10% of graduating class OR an ACT of 28, GPA of 3.75 on a 4.0 scale and be in the top 5% of graduating class. Up to 20 Presidential Scholars Awards are given each year. Honors Award New Transfer Students* scholarship Transfer Academic Excellence - Tier 1 Transfer Academic Excellence - Tier 2 $3,000 $2,000 $1,000 Eligible recipients must have an ACT of 30, GPA of 3.5 on a 4.0 scale and be in the top 10% of graduating class OR an ACT of 28, GPA of 3.75 on a 4.0 scale and be in the top 5% of graduating class. Entering freshmen who do not receive a Presidential Scholars Award may be eligible to receive the Honors Award. minimum GPA (4.00 scale) renewal and other criteria * based on availability of resources A minimum of 15 college-level credit hours transferred from an accredited college or university is required. Cumulative GPA of 3.00 or higher to renew. The award is renewable for a total of four (4) consecutive semesters. Full-time enrollment (12 hours or more) is required. A minimum of 15 college-level credit hours transferred from an accredited college or university is required. Cumulative GPA of 2.75 or higher to renew. The award is renewable for a total of four (4) consecutive semesters. Full-time enrollment (12 hours or more) is required. * based on availability of resources Panther Promise* Panther Promise is available to students from households with an annual income ranging from $33,000 to $67,000. Selected recipients will receive up to $2,500 per year for up to eight semesters. To be eligible, the recipient must file a Free Application for Federal Student Aid (FAFSA), be a first-time freshman or a first-time transfer student to Eastern, attend full-time and meet the income requirements listed above. (*based on availability of resources.)

6 Grants Grants are a great type of financial aid because you don t have to repay them. One of the best known is the Pell Grant, but there are others you should consider. Each grant has different requirements for eligibility. Eligibility for need-based grants is determined using federal and/or state formulas from the information that the student has provided on the FAFSA. award Federal Pell Grant Federal Supplemental Educational Opportunity Grant Awards vary from $602 to $5,500 for the academic year Award s vary additional information Need based, awarded to students with an EFC up to 4,995; available to undergraduates who have not earned a bachelor s degree, awarded to both full- and part-time undergraduate students Need based, awarded only to Pell Grant eligible students, must be enrolled full-time, available to undergraduate students who have not earned a bachelor s or professional degree Teacher Education Assistance for College & Higher Education Grant $4,000 each year, prorated for part-time students Non-need based, but must file a FAFSA. Eligible recipients must be a U.S. citizen or eligible non-citizen and an undergraduate student. Recipients must score above the 75% percentile on the ACT/SAT test or have a cumulative GPA of at least 3.25 as a high school graduate. Grant recipients must agree to teach for at least four years within eight years of finishing their teacher preparation program and to teach high-need subjects in designated schools that serve lowincome students. Students must be enrolled in a teacher education certificate program in one of the following areas: Foreign Language, Mathematics, Science, or Special Education. Monetary Award Program Awards vary from $944 to $4,720 Need-based, students and parents must be Illinois residents. MAP is available to undergraduate students who have not earned a bachelor s or professional degree. Students with an EFC greater than 9,000 are not eligible. Grants may be limited based on FAFSA application date, number of applicants and funding levels appropriated by the Illinois General Assembly. Loans The federal government makes loans available to students on a yearly basis. Loans require repayment using a repayment plan six months after the student graduates from college or after the student ceases to be enrolled in at least six credit hours. Student loans can be a useful tool in funding an education, however students are encouraged to borrow wisely and to only borrow what is needed. award William D. Ford Direct Subsidized Loan Varies depending on grade level additional information Loan is based on need. It does not require a co-signor and interest rates are fixed. William D. Ford Direct Unsubsidized Loan Varies depending on grade level Loan is non-need based and it is available regardless of financial need. It does not require a co-signor and interest rates are fixed. Parent Plus Loan (optional) Varies based on personal need Parents of dependent students with a good credit history may receive Federal PLUS Loans if the student is enrolled at least half-time. Plus loans are not based on need, so these loans are made regardless of income level.

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8 For additional information, please contact: The Office of Financial Aid, 600 Lincoln Ave., Charleston, Illinois eiu.edu/finaid